The Apple Card is offering a $50 sign-up bonus to new cardholders who apply by Jan. 31 and spend $50 or more at Exxon Mobil gas stations within 30 days from account opening.
- New Apple Card holders will earn $50 in Daily Cash when they spend $50 or more at Exxon and Mobil locations within 30 days from account opening.
- The qualifying purchases must be made with the Apple Card via Apple Pay.
- Many other cards offer more generous bonuses.
Is the $50 Sign-Up Bonus Worth It?
The new Apple Card sign-up bonus is intriguing for a couple of reasons. First, the card hadn’t offered sign-up bonuses until recently. And second, Apple and its card issuer, Goldman Sachs, are getting creative, targeting spending at specific retailers rather than general spending, as is standard with most credit card bonuses. Goldman Sachs has recently run similar promotions with Nike, Walgreens, Panera Bread, and Apple Service.
If you’ve been planning to sign up for the Apple Card but just haven’t gotten around to it, the new bonus could be an incentive for doing what you were already intending to do.
However, the bonus is not competitive with the best cash-back credit cards, which offer triple or even quadruple that amount. So it wouldn’t be worth applying just for the sign-up bonus, since you can do a lot better elsewhere.
Also, the focus on specific retailers can make a bonus less valuable. For example, if you don’t own a car, Exxon and Mobil gas stations are likely outside of your normal spending habits. In that case, you’d need to spend money that you wouldn’t otherwise spend on things you don’t need.
If, however, if you regularly fill up at Exxon and Mobil stations, it could make more sense to apply.
The Bottom Line
The Apple Card has recently run several promotions to incentivize new customers to apply and start spending immediately. However, the bonus amounts have been low compared with other cash-back credit cards. So jump on the promotion only if you were already planning to sign up for the card for other reasons, such as its rewards rates, lack of fees, or privacy features. You can apply for the card through the Wallet app on an iOS device.